NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN) Sees Large Growth in Short Interest

NYLI MacKay Municipal Insured ETF (NYSEARCA:MMIN) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 89,302 shares, an increase of 73.3% from the May 31st total of 51,536 shares. Based on an average trading volume of 65,686 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.5% of the shares of the company are sold short.

Hedge Funds Weigh In On NYLI MacKay Municipal Insured ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Advisors Asset Management LLC raised its position in shares of NYLI MacKay Municipal Insured ETF by 5.2% during the 1st quarter. Cornerstone Advisors Asset Management LLC now owns 700,318 shares of the company’s stock worth $16,605,000 after buying an additional 34,447 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of NYLI MacKay Municipal Insured ETF during the fourth quarter valued at approximately $1,712,000. Finally, NewEdge Advisors LLC increased its stake in shares of NYLI MacKay Municipal Insured ETF by 80.2% during the third quarter. NewEdge Advisors LLC now owns 33,991 shares of the company’s stock valued at $809,000 after acquiring an additional 15,132 shares during the period.

NYLI MacKay Municipal Insured ETF Trading Up 0.1%

Shares of MMIN stock opened at $24.19 on Friday. NYLI MacKay Municipal Insured ETF has a 1 year low of $22.77 and a 1 year high of $24.44. The stock has a fifty day moving average of $24.05 and a two-hundred day moving average of $24.05.

About NYLI MacKay Municipal Insured ETF

The IQ MacKay Municipal Insured ETF (MMIN) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed US municipal bond fund for insured, investment-grade securities of varying maturities. MMIN was launched on Oct 18, 2017 and is managed by IndexIQ.